In a press statement, Daimler says the project is set to strengthen the future viability of the business units and better utilise the potential for growth and earnings in the various markets. The decision is likely to be approved at a shareholders’ meeting of Daimler AG in 2019.

As a first step, Daimler says it will invest more than 100 million Euro in the companies. Under the new structure, there would be three independent entities: Mercedes-Benz Cars & Vans and Daimler Trucks & Buses as two new entities, as well as the existing legally independent Daimler Financial Services AG.

Member of the Daimler Board of Management responsible for Finance & Controlling and Daimler Financial Services, Bodo Uebber, said: “We want to secure Daimler’s future from a position of strength. For that reason, we not only need to be as close as possible to our customers’ pulse, but also to be able to react as quickly and flexible as possible to market developments and a fundamentally changing competitive environment.

“With this project, we are creating the conditions for greater customer and market focus and therefore more growth opportunities. Not only our customers and investors, but above all our employees would benefit from that. We are cooperating with the employee representatives at all levels.”